To smoke a cigar that has been cut open, the tobacco removed and replaced with as much stinky, sticky, sweetgreen ganja as one can put in the bad-boy, then re-stuck together using magic. This is usually with the intention of getting fuckin' mellow and "blunted."
(Pretty much any given afternoon at pretty much any given university) - "Gentlemen, I believe we owe it to ourselves to smoke a fat blunt. We would simply be remiss if we didn't."
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.